OTCQX:LMCNF - Post by User
Post by
vchesaron Oct 23, 2018 5:29pm
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Post# 28859967
Why LMC is going down the Hill ?
Why LMC is going down the Hill ?Has anybody can provide a reason for the significant price drop for LCM beginnning April this year. It hit a year high at $3.25 in January. It appears to be a very undervalued Gold stock. Could it become a takeover target at this price level? Gold Corp owns 12% and Yamana Gold owns 20.5% of the LMC shares currently. According to Q2 Financial results, it has cash and cash equivalent of $69 million. It's fulll year projected production for 2018 is 325,000-350,000 ounces of gold at AISC $940-$975 per ounce. CIBC World Markets 12 month Target Price is $4.25. The recent suspension of work at its RDM operation should not be a major reason as RDM mine's annual productions is less than 10,000 ounces.